Former presidential aide, Reno Omokri has listed 20 ways in which the Nigerian naira can appreciate.
The naira has continued to drop against the US dollar at the investors’ and exporters’ window.
Recall that the Central Bank of Nigeria (CBN) announced operational reforms to the forex market on June 14. Consequently, the forex market has been unstable since the announcement.
On Wednesday, July 19, 2023, the naira took another hit, falling to ₦860 per dollar at the parallel market. This figure represents a significant 4.2 per cent depreciation compared to the ₦825 it traded on the previous day.
Adding his voice to conversations around the naira devaluation, Omokri took to his official Twitter handle to provide some things that can make the naira gain value.
In the long tweet, Omokri argued that nobody is coming to save the country except Nigerians themselves.
“If you want the Naira to appreciate in value, do these twenty things.
1. Instead of MTN, Airtel, or Etisalat, use Glo
2. Instead of Mercedes, Range Rover, or Honda, buy Innoson
3. Fly Air Peace over Air France, KLM, or Lufthansa
4. Bank at First Bank, UBA, GTBank, and Zenith over Stanbic
5. Watch AriseTV, Channels, and NTA over Multichoice DSTV
6. Buy Dangote and Ibeto cement, and avoid Chinese brands
7. Watch and buy Enyimba FC, Kano Pillars, and 3SC over Manchester United, Barcelona, PSG, and Napoli
8. Buy music of Nigerian origin from streaming sites instead of downloading foreign artistes
9. Patronise DAKOVA, Mai Atafo, Mudi Africa, and JADZ Couture (maker of my babanriga and agbada. Show her some love on +234 704 477 9973) over Armani, Gucci, Balenciaja, and Louis Vuitton
10. Drink palm wine over champagne, Hennessy, Scotch Whiskey, and Irish Cream
11. Shop with your local market woman instead of at Shoprite
12. Buy and eat only made in Nigeria rice, and let Thailand eat their rice
13. Consider cassava bread over bread made with foreign-grown wheat
14. Buy Zinox PCs, laptops, and tablets
15. Instead of Birdseye custard, Quaker oats, and Kellogg’s cereals, drink akamu, pap, and ogi
16. Leave KFC, and patronise Mr. Bigg’s, Tantalizers, and Mama Put
17. Stop using Holland Wax, and imported George and wrapper. Use Kaduna textiles, aso oke, Akwete cloth, and other local textiles
18. Watch less Hollywood and Bollywood movies, and go for Nollywood and Kannywood
19. Holiday and honeymoon in Obudu Cattle Ranch, Yankari Games Reserve, Ikogosi Warm Springs, and attend Argungu Fishing Festival
20. Reject imported frozen fish, meat, and dairy products and buy fresh produce from local producers
“Nobody is coming to save Nigeria. It is only Nigerians that will save Nigeria. Local brands may or may not be as good as foreign ones, but with continued patronage, they will improve in quality. Buy them, and your Naira will rise along with your personal happiness and the international rating of the green Nigerian passport. Your value is tied to Nigeria’s value. Buy Nigerian and Nigeria’s foreign reserves, trade balances, and debt to GDP ratio will automatically improve.”
If you want the Naira to appreciate in value, do these twenty things.
1.Instead of MTN, Airtel or Etisalat, use Glo
2.Instead of Mercedes, Range Rover, or Honda, buy Innoson https://t.co/lAHrZmztbH Air Peace over Air France, KLM, or Lufthansa https://t.co/Wqa4bnR2dh at First… pic.twitter.com/CyHGceR8hs
— Reno Omokri (@renoomokri) July 21, 2023
In other news, Kanyi Daily reported that the Economic and Financial Crimes Commission (EFCC) on Friday, warned its staff not to leak confidential information.
EFCC’s acting Chairman, Abdulkarim Chukkol gave the warning in Karu, Abuja, during the passing-out ceremony of the EFCC Detective Superintendent Course 9.